Press Release: American Leisure Holdings, Inc.
June 17, 2002
ROCKWALL, TX -- FreeWillPC.Com, Inc. (OTC Bulletin Board: FWPC) has now signed the definitive Stock Purchase Agreement
detailing the exchange of shares authorized through the corporate combination of American Leisure Holdings, Inc.,
a Nevada corporation, and FreeWillPC.Com, Inc., also a Nevada corporation.
By the signing of the Stock Purchase Agreement, American Leisure Holdings, Inc. shall become a wholly owned subsidiary
of FreeWillPC.Com, Inc. The merger of the companies and the issuance of the shares are in accordance with and satisfactory
to the parties and to their respective counsel's and financial advisors and contain such conditions, customary
in a transaction of this type. The Stock Purchase Agreement will result in the change of the officers and directors
of FreewillPC.Com, Inc. which will be elected, from American Leisure Holdings, Inc.'s core business's and its industry
experts and advisors.
FreeWillPC.Com, Inc. prior to this merger being effective, has obtained a dual quotation of its securities on the
Frankfurt Exchange through specialist brokers in Frankfurt. The CUSIP # is 633357 and the trading SYMBOL is FWL.
Acting CEO James Leaderer said, "We have now finalized and signed the definitive Stock Purchase Agreement
with American Leisure Holdings, Inc. shareholders, and we feel that the value of their asset base and earning streams
from their subsidiary, associated and affiliated companies together with the quality of their management, will
make FreeWillPC.Com, Inc. a well structured and a well organized public company that has the potential for significant
share growth in one of the world's largest market sectors, that of leisure and corporate travel." He added,
"We are extremely excited that this merger has been finalized for our shareholders and will follow with additional
news as and when it is appropriate."
American Leisure Holdings, Inc., Chairman of the Board Malcolm J. Wright stated, "American Leisure, and its
subsidiaries, associated and affiliated companies that were rolled up to form American Leisure Holdings (group
companies), are very excited about entering the public market place through FreeWillPC.Com, Inc. and building a
large and very profitable travel, leisure and vacation hotel/resort based company. The combined revenues of our
group companies for FY 2001 were approximately $17 million, with a net income of approximately $1.0 million. We
believe that group revenue can be increased very significantly over the next 2-3 years through a combined effort
of all of the companies that were rolled up into American Leisure Holdings, Inc. The goal of American Leisure Holdings
is to maximize the asset value and revenue streams from our group companies, each working in conjunction with each
other to maximize the earning stream from group assets. We are preparing an aggressive acquisition strategy to
locate and acquire operating vacation hotel/resort properties in multiple resort destinations and operate them
as hotel/resort and vacation ownership properties. This merger will allow us to accomplish this at a much faster
rate via the utilization of funds obtained from the public market place and enhanced share value, which can be
used for resort acquisitions and for the expansion of our leisure travel, corporate travel and marketing subsidiaries.
As a group, we have a tremendous amount of experience in travel, resort development and vacation ownership. We
plan to expand the Group into travel related services by capitalizing on the vast membership network that we have
and are continuing to develop, thereby creating a very significant annual revenue source for the company."
FORWARD LOOKING STATEMENT: Statements about the Company's future expectations, including future revenues and earnings,
and all other statements in this press release other than historical facts are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, Section 2 IE of the Securities Exchange Act of
1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements
involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ
materially from expected results. The Company undertakes no obligation to update forward-looking statements to
reflect subsequently occurring events or circumstances.
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Contact:
The Investor Relations Group, New York
Greg D. Sanfilippo, 212/825-3210
or
Dian Griesel, Ph.D., 212/825-3210